Daijiworld Media Network – New Delhi

New Delhi, Dec 20: India and Oman announced plans to implement their recently signed Comprehensive Economic Partnership Agreement (CEPA) within the next three months, marking a major step in strengthening bilateral trade and investment ties between the two countries. The accelerated rollout was confirmed by Commerce and Industry Minister Piyush Goyal, highlighting both nations’ commitment to deepening economic cooperation following the pact signed in Muscat on December 18.

Under the CEPA framework, Oman will grant zero duty access on over 98?% of its tariff lines, covering nearly all Indian exports by value, while India will reduce tariffs on around 78?% of imports from Oman — a move expected to significantly expand market access for Indian goods and services.

The agreement aims to enhance trade volumes, investment flows, and professional mobility, offering new opportunities for Indian exporters in sectors such as textiles, gems and jewellery, pharmaceuticals and automobiles, while facilitating smoother operations for service providers and skilled workers.

Goyal’s announcement underscores India’s broader strategy to diversify trade partnerships and integrate more deeply with global markets amid shifting global economic dynamics.